Skip-a-pay for the holidays

The holidays are upon us and seasonal retail sales are expected to be strong. A recent forecast from the National Retail Federation predicts growth of 3.8 to 4.2 percent over 2018 holiday retail sales.

This is also the time of year when consumers might need more flexibility when it comes to directing their dollars. For example, funds that are earmarked for loan payments might be useful to help make holiday-related purchases. In these situations, some customers might want to take advantage of a skip-a-payment option for their bill payments.

What is skip-a-payment?

Skip-a-payment allows customers to do just that, take a month off from a regularly scheduled bill payment and reserve that money for other purposes. The customer typically needs to have their account in good standing to take advantage of this option, if it’s offered by their biller.